FG approves 90 days window for payment of duty on improperly imported vehicles
Omeiza Bilal
The Federal Government has approved a 90-day window for importers to regularize import duties on specific categories of vehicles not properly imported into Nigeria.
A directive by the Minister of Finance and Coordinating Minister of the Economy to the Nigerian Customs Service (NCS) on Sunday, indicated that the initiative applies solely to vehicles imported into Nigeria where the requisite customs duty has not been fulfilled or vehicles detained due to undervaluation.
The NCS affirmed that it represents its proactive move to enhance compliance and streamline import processes adding that just as it strives for inclusivity, it clarified that vehicles seized and condemned will not be released under new arrangement and shall be forfeited to the Federal Government in accordance with extant regulations.
It said “All vehicle owners, Importers/Agents seeking to regularize import duties on their vehicles are required to apply to the Zonal Coordinators (Zones A, B, C, D) and CAC FCT Command. They must submit the necessary available documents and process Vreg in line with the Federal Ministry of Finance directives for the registration of imported motor vehicles.”
“Valuation and assessment of the vehicles will be carried out using the VIN valuation method. Import Duty and a 25% penalty shall be paid in tandem with the import guidelines, procedures, and documentation requirements for used vehicles under the Destination Inspection Scheme in Nigeria (2013) and the Nigeria Customs Service Act 2023. Also, duty payments must be made using the Procedure Code specifically created for this exercise.
This initiative reflects our unwavering commitment to facilitating compliance. We encourage all stakeholders to capitalize on this opportunity within the stipulated time frame.” a statement signed by the National Public Relations Officer of the NCS, Abdullahi Maiwada, Chief Superintendent of Customs, Abdullahi Maiwada noted.
